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Fly News Breaks for March 29, 2018
DXCM
Mar 29, 2018 | 07:37 EDT
BMO Capital analyst Joanne Wuensch raised her price target on Dexcom to $78, saying the introduction of its G6 CGM system ahead of schedule and the new Class II designation on the product marks a "complete makeover" rather than just an upgrade from the prior system. Wuensch keeps her Outperform rating on Dexcom, forecasting additional discussion of the G6 at its upcoming Q1 call. She also sees revenue acceleration over the longer term as the system achieves Medicare penetration and possibly expands to the relatively untapped type 2 diabetes patient population.
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